The last thing we need in 2020 is to fall for a scam but with so much going on in the world and scammers becoming more sophisticated, it wouldn't be unusual to do so.

Now, the Federal Trade Commission is warning everyone of the latest scam going around. It involves you, a scammer and your supposed utility bill.

Here's how it works: you get a phone call from a scammer claiming you paid too much on your utility bill for any given month. According to the FTC, scammers pose as an employee from said utility company and offer you a refund in cash and / or a discount on an upcoming bill.

From there, you are asked to press a number and in turn, give personal information and / or banking information in order to cash in on your savings. This is a scam.

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The FTC is helping us brush up on some basics regarding this scam. Many of us use autopay for bills, which means money is taken out of our account at the same time each month and we may not even pay much attention to it. This could leave you vulnerable to scammers. To avoid this, check your bank accounts often and know that utility companies will not give cash refunds. They will also likely give you a credit on an upcoming bill instead.

To avoid becoming a victim of this scam, never give your personal information away over the phone or online. If you have a question as to if this is a scam or not, hang up and call the utility company directly. It may take a few extra minutes but it could save you a big hassle in the future!